Good solid support taken by Nifty today near 16850. Closing was well above the level and Nifty closed at 16985. This indicates we can see some nice short covering tomorrow. There can be some selling pressure later in the day. To continue the momentum into the next week Nifty has to close the day above 17062.5 that was the high of today. 17211 and 17411 will be the...
There is a divergence formed in RSI in the last one hour during todays fall. Indicating that we may see positivity today. Nifty may end in Green territory if there is no further bad news from US. 17258 and 17355 will be important resistances. Followed by 17488 which is the 50 EMA. Supports are at 17113, 16952 and 16745. The last 2 only if there is some further...
Compressed Coal becomes diamond. Nifty looks like that compressed diamond right now. With upcoming rate hikes by US Fed and possibly RBI there is chance of further compression. But once this cycle of rate hike is done with, once the inflation is under control. The diamond will definitely shine and glitter and make the investors smile. Nifty Supports are: ...
Nifty today barely took support at 200 days EMA. In the closing hours Nifty was weak and it will be difficult for Nifty I think to hold on to this level tomorrow. Three expected support zones for Nifty in the coming days can be 17512, 17353 and Finally 17253. Nifty not able to cross 50 Days EMA after multiple attempts can not be considered a good sign. 17800...
200 Days EMA proved to be a great support for NIFTY today. If Nifty can hold it tomorrow It will have to punch above it's weight again and take down major resistance number 2 that tis 50 days EMA that is at 17809. Crossing 17809 will unleash the Nifty towards next resistances which are near 18016, 18141 and 18267. Supports for Nifty are near 17584 and 17253.
The rampant run that Nifty started after making a base near 17255 has seen it make a high of 17799 and correct from there to close below 200 Hour's EMA at 17711(200 Hour's EMA is at 17716). Close above 17716 would have been great for the momentum to continue. Now that Nifty has closed below 200 Hour's EMA, Nifty probably will need a support to start next leg of...
Markets have given a strong closing to the week above 50 Weeks EMA as well as above 200 days EMA. 50 days EMA remains an important resistance to conquer which is around 17815. The momentum that has built can well take the Nifty past the same if 17581 (200 days EMA) is held next week. Nifty Supports remain at: 17581, 17353 and finally 17248 (Major Support). ...
Looks like Nifty found a good support again today near 17306 range. If Nifty can hold it tomorrow certainly it can again try to leap ahead tomorrow. Important Supports: 17306, 17259 and finally 17103. Important Resistances: 17469 (Tough One To Conquer) and equally tough resistance of 17582.
Lot of resistances ahead for Nifty to cross. Today was just a good beginning today. May be there will be some consolidation tomorrow. The supports for Nifty are near: 17393, 17352 and 17255. The Resistances for Nifty are near: 17468, 17520, 17553 and finally 200 days EMA at 17584.
Nifty is looking weak and desolate. Volumes have dried and important supports have been broken. Usually rallies and up moves happen only at the times when no one expects them to happen. The good thing right now is Nifty is respecting the support zone near 17252 and 17353. As long as the last for is held we can look for a positive move to happen as Nifty Relative...
Nifty is near a major fibonacci support of 17252. This is the place from where it can turn positive. In case this level is broken the next support for Nifty will only be at Fibonacci levels of 16747. RSI on Nifty is also entering the zone from where it normally it can bounce. Relative Strength Index is around 31.35 on daily charts. Last time it was at similar or...
Nifty has been declining within the squeezing triangle needs to gather all the strength available and jump above 17591 first and 17776 to be back in neutral zone. Currently it is in the bear zone or negative territory. Above 17921 will be a trend change and above 18116 nifty will be in positive energetic territory. Bulls can take over only after closing above...
In a data heavy week where lot of global events are about to happen Nifty may remain under pressure. Most important of the global events is the US FED FOMC meet on Friday. Don't carry long positions. Nifty Supports: 17820, 17720 and 17590. Below 17590 market goes into bear territory. Below 17353 market goes into absolute bear grip. (doesn't look likely as of...
As you can see in the chart. It was a perfect candle taking a perfect support near 17795 zone (Today's low 17800). From where it kept on going North until it was stopped by a perfect resistance of 50 days EMA which was at 17960 (High of the day was 17954.55). Those who doubt Technical analysis and say that these are just post mortem lines without any meaning...
Nifty on a weekly chart is consolidating between strong support and strong resistance with a positive bias starting to appear for medium to long term. Strongest support for Nifty is between the zone of 17352 and 17430 (50 Weeks EMA). Strong resistance zone for Spot Nifty is 17916 and 18027. However crossing 18027 is not enough for bulls to take charge of the...
Once Nifty is able to cross 50 Hours EMA it can travel further. 17793 is the number above which Nifty needs to sustain. Supports For Nifty: 17649, 17580, 17495 and finally 17345. Below 17345 Nifty will become very weak. Resistances for Nifty: 17793, 17828, 17914, 17974 and finally 18200. Above 18200 Nifty will be Bullish.
If Nifty holds on to 17427 which is the 50 Weeks EMA there are chances that we may see an upswing and turnaround in market sentiments in the medium term we may see a rally which can take us close to All time high of 18887 or give us a new All-time high on Nifty which can be just above 19K levels. If the support levels are held we have a chance of Cup and Handle...
Strong closing on Friday and a good budget have increased the hopes of a post budget rally in Nifty investors are hoping that the worst of Hindenburg-Adani Saga is behind us and the momentum gained on Friday can continue further. In any case in the medium to Long term target of Nifty is Point B shown in the chart which is around 18800 and 19,000. How Nifty...